Indices gave up gains to close lower.
S&P 500 closed @ 1407.05
RSI @ 51.38
CMF @ 0.000
Internals were :
Down volume led by 1.10 to 1 in NYSE & .95 to 1 in Nasdaq
Declining stocks led by 1.07 to 1 in NYSE & 1.12 to 1 in Nasdaq
Net new 52 wk highs were mixed +44 in NYSE & -7 in Nasdaq
VIX closed UP 2.28% @ 17.12
Oil closed @ $88.50
Gold closed @ $1695.80
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, as we did not close near low of the day, there is good reason to believe that downside may be contained now. TAPE is telling me that despite posturing by politicians, a deal is in the cards. I expect "risk on trade" to be in the vogue as early as Wednesday. I am expecting a green close after lower lows for two days.
BLOG does NOT give buy or sell.
Saleem
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